QUOTE (NJang @ Mar 31 2009, 04:52 PM) I too am considering renting out my personal condo I have in downtown Vancouver. I`ve done a bit of research on this, but have yet to follow-up or list with any placement agency. Check out these 2 sites and offer your thoughts:
http://2010houserentals.com
Hello,
I am the owner of
2010HouseRentals.com and may be able to shed a little bit of light on the potential income one can generate from my experience.
Firstly, there has been a lot of hype around renting homes and condo`s for the Olympics, and due to the "crisis" the demand has diminished to a sustainable level. The demand is only an over flow of hotel bookings for most properties (there is also a market for renting out your accommodations to a corporation but this market is very hard to enter), since the hotels are not filling as fast as everyone expected, the demand is not as ridiculous as once anticipated.
Secondly, There is still a great potential and reasonable demand, but you may not be able to get $2000.00 per night for a 3 bedroom condo anymore. As you see on my website, some owners still have their homes listed at very very high prices; most likely they will never be rented at these crazy prices. Also, as time progresses, the accommodations closest to Vancouver will be booked, then moving through to the Fraser Valley (obviously the homes that are farther from the events will be booked last at lower prices).
Thirdly, to get an idea of what you could charge, consider what the cost of a hotel room would be that is at a comparable standard to your accomodations. Multiply that by the numer of bedrooms you have. Than have a look at what others are offering, and take an average. Unfortunatly, I can not tell you what to list your home at becuase VANOC has warned me about encouraging gouging (in their opinion gouging is probably more than 200.00 per night). I had recieved contact from them about 1.5 years ago when i started this business about their concerns with private rental accomodations. Thankfuly we are in a free market so you can charge however much you want.
There is still a significant amount of money to be made on rental accommodations during the Olympics.
I charge $100.00 - $130.00 per listing depending on how many pictures you would like to post. I am happy to offer a REIN Member discount at $100.00 for 12 pictures in your listing (regular price is $130.00). If you decide to list you home, just let me know you are a member and I will set you up with the discount.
If you have any questions, please email me at jarrett (at) 2010HouseRentals.com Replace the (at) with @
